Technip Awarded Contract for the Karbala Refinery in Iraq

Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) was awarded by Oil Projects Company - SCOP(1) a significant contract(2) for project management consultancy (PMC) services for the engineering, procurement and construction (EPC) phase of the Karbala refinery, Iraq. This award follows the front-end engineering design executed by Technip in 2010.

The scope of work will cover two phases:

phase 1: issue of enquiries for the EPC contract, bids clarification, evaluation and contracts finalisation with the EPC contractors,

phase 2: overall management of the EPC contract execution.

Technip's operating center in Milton Keynes, United Kingdom will execute phase 1 of the project, which is scheduled to be completed in the second semester of 2013.

Riccardo Moizo, Technip's Senior Vice President for PMC, stated: "We are delighted to have been awarded this project by SCOP and to participate in developing and enhancing Iraq's refinery capabilities. This is a significant contract for Technip's newly created PMC business unit and we believe it will open up opportunities in the near future."

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(1) A company of Iraq's Ministry of Oil.

(2) For Technip, a "significant" onshore contract is ranging from €50 to €100 million.

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Technip is a world leader in project management, engineering and construction for the energy industry.

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